Mackenzie Financial Corp Acquires 242,799 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Mackenzie Financial Corp increased its holdings in Philip Morris International by 7.3%, acquiring an additional 242,799 shares during the 1st quarter, bringing their total ownership to about 3.58 million shares.
• Philip Morris International also recently reported quarterly earnings of $1.91 per share, exceeding analyst estimates, but had slightly lower revenue compared to expectations, at $10.14 billion.
• The company announced a quarterly dividend of $1.35, yielding 3.36% annually, with a current payout ratio of 102.66%.

Mackenzie Financial Corp increased its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,583,903 shares of the company's stock after acquiring an additional 242,799 shares during the quarter. Philip Morris International comprises about 0.8% of Mackenzie Financial Corp's investment portfolio, making the stock its 29th biggest holding. Mackenzie Financial Corp owned about 0.23% of Philip Morris International worth $568,873,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Perigon Wealth Management LLC grew its position in Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after purchasing an additional 60 shares during the last quarter. TBH Global Asset Management LLC grew its position in Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock valued at $1,100,000 after purchasing an additional 61 shares during the last quarter. Capital Advisors Wealth Management LLC grew its position in Philip Morris International by 2.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock valued at $477,000 after purchasing an additional 63 shares during the last quarter. Lloyd Advisory Services LLC. grew its position in Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after purchasing an additional 64 shares during the last quarter. Finally, Western Wealth Management LLC grew its position in Philip Morris International by 1.5% during the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock valued at $706,000 after purchasing an additional 64 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Down 0.1%

Shares of PM opened at $160.92 on Monday. The firm has a market capitalization of $250.47 billion, a P/E ratio of 30.59, a P/E/G ratio of 2.34 and a beta of 0.51. Philip Morris International Inc. has a 12-month low of $112.43 and a 12-month high of $186.69. The firm has a fifty day moving average price of $178.86 and a 200-day moving average price of $160.67.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 10.57%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 earnings per share. Analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a $1.35 dividend. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.36%. Philip Morris International's dividend payout ratio is presently 102.66%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America raised their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Morgan Stanley reissued an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Barclays reissued an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.73.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.

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